Sarama Completes Tranche 2 Placement and Broker Options

Executive Summary

• Sarama Resources completed the second tranche of its A$2.6 million equity placement, issuing 28,888,889 free‑attaching unlisted options and 19,166,666 broker options at A$0.09 each.
• The placement follows a first tranche that raised A$2.6 million (86,666,667 CDIs at A$0.03 per CDI).
• Proceeds will fund exploration at the Cosmo Gold Project in Western Australia and support general working capital, including an arbitration claim against Burkina Faso.

Key Details

• Tranche 2 issuance: 28,888,889 Placement Options + 19,166,666 Broker Options; exercise price A$0.09; expiry 30 Nov 2028.
• Shareholder approval obtained at a special meeting on 2 Oct 2025; filing of Appendix 3G to the ASX on 7 Oct 2025.
• First tranche recap: Raised A$2,600,000; issued 86,666,667 CDIs at A$0.03 per CDI.
• Tranche 3 (upcoming): To consist of 3,333,333 CDIs and 1,111,111 attaching options to Director Andrew Dinning; expected gross proceeds A$100,000.
• Board & management subscription: Aggregate 4,999,999 CDIs subscribed by board/management, inclusive of Director‑related CDIs in Tranche 3.
• Use of proceeds: Primarily for exploration (infill soil geochemistry and maiden drilling at the Cosmo Gold Project) and general working capital, including funding the arbitration claim against Burkina Faso.
• No use of funds for non‑arm’s length payments or investor‑relations activities.

Notable Quotes

(None provided in the release)